Development Ministry

Development Ministry imposes €243,000 fines on counterfeit products in Thessaloniki

The Development Ministry imposed fines totaling 243,000 euros on six businesses in the wider area of the northern port city of Thessaloniki for counterfeit products. 

During inspections conducted by the Market Control Interagency Unit (DI.M.E.A.), 34,626 counterfeit items were seized and destroyed. 

Price cuts have taken effect

Since Friday, infant formula has been between 5% and 16% cheaper than it was up until Thursday, while a series of other commodities also saw their retail prices drop as a result of the ceiling imposed on gross profit margins by the Development Ministry.

More measures as prices rise

The measure banning special offers on retail products whose prices have been hiked is being extended to more products, concerning those with an increase after January 10, 2024, in an apparent effort by the Development Ministry to reduce inflation as high prices remain the biggest problem for citizens.

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